The majority of Bitcoin (BTC) coins that are in circulation are stored in the wallets of investors. This was recently revealed in a report by Diar – a digital currency industry and analysis newsletter. According to the data revealed by the analysis, 55% of Bitcoin (BTC) are presently stored in wallets that are valued at more than $1.3 million, resulting in balances of over 200 Bitcoins.
About 33 percent of Bitcoin (BTC) in those wallets have never been used in outgoing transactions since the digital currency tested its all-time high in December last year, according to report. This might be as a result of lowering real supply, lost private keys, or a very strong resolve by digital currency believers.
According to the report, 27% of those wallets continue to accumulate more coins. Nevertheless, Diar stated that those ownerships don’t specify a specific number of persons, adding that the largest wallets belong to digital currency trading platforms. 3.8% of the total Bitcoin (BTC) in supply or a $4.2 billion value of BTC is presently held in the top 5 wallets administered by trading platforms.
Back in January, it was reported that 16.8 million bitcoins, or 80% of the total supply of Bitcoin (BTC), had been mined. Bitcoin (BTC) has a total supply of 21 million coins, and this was built into its protocol by Satoshi Nakamoto as a way to introduce digital scarcity to the digital currency. This means that only about twenty percent or 4.2 million Bitcoins were remaining at that time until the 21 million supply cap of the digital currency is reached.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin (BTC) is currently valued at $6,360 after an increase of more than one percent over the past twenty-four hours. The digital currency currently boasts of a market cap of $109.83 billion and its trading volume over the past twenty-four hours is $4.37 billion.